Welcome to our dedicated page for Autodesk news (Ticker: ADSK), a resource for investors and traders seeking the latest updates and insights on Autodesk stock.
Autodesk Inc. (NASDAQ: ADSK), a global leader in software solutions, has been empowering designers, engineers, architects, and creators for over three decades. Founded in 1982, Autodesk serves industries spanning architecture, engineering, construction, product design, manufacturing, and media & entertainment. Renowned for iconic software like AutoCAD, Revit, Maya, 3ds Max, Fusion 360, and SketchBook, Autodesk leverages the power of 3D design and cloud computing to facilitate collaborative and innovative projects worldwide.
Autodesk’s commitment to innovation is evident through its recent initiatives and acquisitions. The company’s cloud-based solutions and AI-driven tools are designed to streamline design, simulate fabrication, and enhance collaboration. A notable acquisition includes Wonder Dynamics, which integrates AI with 3D animation tools, further simplifying complex processes for creators.
Additionally, Autodesk's efforts in sustainability and operational efficiency are highlighted in its State of Design and Make reports. The reports reveal key industry trends and underscore Autodesk's dedication to leveraging technology for environmental benefits.
Financially, Autodesk continues to exhibit robust performance, with substantial growth in revenue and a significant customer base across 180 countries. The company’s strategic moves, including partnerships and acquisitions, aim to expand its market reach and enhance service offerings, ensuring competitiveness and sustained growth in a dynamic digital landscape.
From high-performance cars to breathtaking skyscrapers and blockbuster films, Autodesk's technology is integral to many aspects of modern life, making it a pivotal player in the design and technology space.
Autodesk has appointed Rebecca Pearce as its new Chief People Officer, effective immediately. With over 20 years of HR experience across Asia, Europe, and North America, Pearce will oversee all human resources functions and corporate real estate, travel, safety, and security. CEO Andrew Anagnost expressed confidence in her leadership, particularly during challenges posed by the pandemic and market transformations. Pearce, holding degrees in Organizational Behavior and Human Resource Management, aims to enhance Autodesk's employee experience and talent management.
Autodesk (NASDAQ: ADSK) announced its acquisition of ProEst, a cloud-based estimating solution, to enhance its Autodesk Construction Cloud. This strategic move aims to improve preconstruction capabilities, allowing construction teams to create accurate estimates, manage bids, and minimize project risks on a unified platform. ProEst's integration is expected to streamline estimation workflows, enhance productivity, and reduce errors, contributing to better project outcomes. The acquisition is anticipated to close in Autodesk's fourth quarter of fiscal 2022, having no material impact on prior financial guidance.
Autodesk (NASDAQ: ADSK) announced its participation in several upcoming investor conferences. The events include the Wells Fargo 5th Annual TMT Summit and the Credit Suisse 25th Annual Technology Conference on November 30, 2021, followed by the Barclays Global Technology, Media and Telecommunications Conference on December 7, 2021. A live webcast of these presentations will be available on Autodesk's Investor Relations website. Investors are encouraged to register 15 minutes early. For more information, contact Autodesk Investor Relations at 415-507-6373.
Autodesk reported Q3 fiscal 2022 results with total revenue of $1,126 million, an 18% increase year-over-year. GAAP EPS was $0.61, while non-GAAP EPS stood at $1.33. Despite a 16% rise in total billings to $1,168 million, supply chain disruptions and inflation are affecting the company's recovery pace. Design revenue rose to $994 million, up 17%. Recurring revenue represents 97% of total income. Cash flow from operations decreased to $270 million, reflecting challenges in the current market landscape.
Autodesk (NASDAQ: ADSK) will host its third quarter fiscal 2022 financial results conference call on Tuesday, November 23, 2021, at 2:00 p.m. PT. The call will be available via a live webcast on Autodesk's investor relations website. An audio replay will be accessible post-call after 5:00 p.m. PT. This event is crucial for shareholders and market analysts to assess Autodesk's financial performance and outlook.
A recent study by Altimeter and Autodesk (NASDAQ: ADSK) highlights that companies with higher digital maturity are better prepared for the upcoming trend of convergence, blending technologies and processes. The survey included 749 leaders from various industries and revealed that 58% recognize convergence as critical for their business. The research identifies five stages of digital maturity, with companies at Stage 5 viewing convergence as essential. Key challenges in adopting convergence include cultural resistance, data quality for AI, and the need for skilled talent.
Autodesk has unveiled significant advancements to the Autodesk Construction Cloud during Autodesk University 2021. Key features include a new Schedule management tool in Autodesk Build, which centralizes project scheduling and integrates data from over 200 partners to enhance collaboration and streamline workflows. Additional updates enhance data sharing across project teams, automate submittal processes, and improve integration with Microsoft Teams. The expanded partner ecosystem aims to facilitate data-driven decision-making for construction teams.
Autodesk is set to host its annual Autodesk University (AU) 2021 virtually from October 5–7, focusing on innovation in architecture, engineering, construction, product design, and media. The conference will feature keynote sessions led by CEO Andrew Anagnost and offer free access to expert-led classes and networking opportunities. This year's event highlights Autodesk's commitment to sustainability, achieving carbon neutrality for the seventh consecutive year. Additionally, it will introduce the new "Autodesk it" advertising campaign aimed at enhancing brand engagement.
Autodesk announced that over 350,000 projects worldwide are utilizing Autodesk Construction Cloud to enhance preconstruction workflows, including document and bid management, model coordination, and collaboration. The company is committed to unifying construction processes and has introduced various product updates, facilitating better project management through features like machine learning for risk mitigation and improved collaboration. Notable users include DeAngelis Diamond, Granger Construction, and Windover Construction.
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